What has been your best OR worst script option experience? For those of you who are new to screenwriting, here's the basic skinny on OPTIONS.
A screenwriting option is a legal agreement between a writer (usually a screenwriter or author) and a producer or production company. In this agreement, the producer obtains the exclusive rights to adapt the writer's screenplay or story into a film or television project within a specified period of time.
Typically, the option agreement grants the producer the right to develop the screenplay or story further, secure financing, attach talent, and ultimately produce the project. In exchange for these rights, the producer pays the writer an upfront fee, known as the option fee. This fee can vary widely depending on factors such as the writer's experience, the potential commercial value of the material, and negotiation between the parties involved.
During the option period, which is usually one to two years but can vary, the producer has the exclusive right to exercise the option and proceed with the project. If they fail to do so within the specified timeframe, the rights revert back to the writer, and they are free to shop the screenplay or story to other potential buyers.
If the producer decides to exercise the option, they typically negotiate further terms with the writer for the production of the project, including the purchase of the screenplay rights and any potential writing fees or royalties. If the project moves forward successfully, the writer may receive additional compensation, such as writing credits and residuals, based on the project's performance.
I've had a few options over the past 20 years as a writer. Got paid for a few of them but ironically NONE of my screenplays were made after they were optioned. Some of them sat on the shelf for years until the option expired. So, I've decided to produce my own films. Finished a comedy film (also possible series) two weeks ago and have 3 films on the schedule for 2024. Tired of waiting on busy producers to fund my dream.
I also have two Christmas scripts that were optioned in 2023, we'll see what happens with those.
What about you? Any options in your past or present?
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Hi, Fran Harris. I'm interested in hearing everyone's experiences. I haven't optioned a script yet, but I signed a shopping agreement last year with a producer that I met on Stage 32. I've heard that an option is better than a shopping agreement. One reason is there's possibility for an upfront fee with an option.
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A bunch of us West Coast Writers had a nice little cottage industry going on back in the 70's. We generally 'sold' half a dozen (usually less) options each year. Times have changed since then. I have no clue about today's market and from what I've observed; I don't want to. The one thing I'll say to you all is to keep the creativity alive and keep on trucking.
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love hearing everyone's experience, haven't had a script optioned (yet!) but the advice is appreciated!
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They're not really in my remit now I'm on the producing side. I did option one script a long time ago, and it was exciting and validating but ultimately went nowhere. The producer however was really good about letting it go as he really did want to see the script get made and didn't want to hold it back.
Having a script under option was kinda daunting though. It felt trapped. Now I'd either want to be paid a fair option fee or do a non-exclusive short-term shopping agreement.
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The optioning process is wild. It can be stressful, but also so rewarding! I've only ever been on the producing side, but I'd love to hear about everyone's experiences from the writer's perspective.
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I've had a number of my projects optioned, and as a producer, have optioned a number of others' works. Over the decades I've observed it's always best as a writer to get some payment up front before signing anything. As for "free" options or the $1 or $100 option, you're probably better off not tying up your property with that company: if they can't afford to pay you a respectable amount [based on many factors such the production budget, marketability, etc.] they probably can't afford to market the project to potential buyers. // I always check the latest WGA Guidelines and then depending on the production company, sometimes offer a "Deferred Payment". But always a substantial non-refundable amount up front as too often that's all a writer does get from that situation. // Another thing we've done instead of an option is to offer someone a non-exclusive right to market the script, with an agreement that gives them a Finder's Fee if they come up a buyer. // Good luck to you all, no matter which side of the option agreement you're sitting on.
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Thank you, Fran, for putting our insights and experience out for us to learn from and be inspired by. Much appreciated. Best to you with all your creative projects.
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Fran Harris Thanks for posting this. I have never optioned as I'm just getting my screenplays ready for pitching and I'm still learning the business. However, it might seem strange, but I love hearing that you've decided to produce your own screenplays rather than wait for producers. I've been thinking along the same lines. I know producing/directing is hard, but I realized that nearly all my favorite directors write or co-write their own screenplays and often produce or co-produce their own films rather than spend time looking for a buyer. I don't know what the best route is for me, maybe a bit of both.
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Thank you Fran Harris for sharing this, something I will hopefully soon have an experience of my own to share. Great insights!
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I have one script in a indie producer's hand and no agreement signed. I did have one script go the "if-come" deal which was good for 6 months. The talent dropped out and the agreement lapsed.
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Tucker Teague yep! agree no harm in doing both! I’m optimistic that the two 2023 optioned scripts will be produced THIS year or next. But I cannot describe the sheer elation I experienced when we wrapped principal on my movie/series two weeks ago! So I hope
you’ll produce something this year too!
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Obviously my BEST are the 2 that've actually gone on to be produced and distributed (even if I was DRASTICALLY rewritten).
The worst... a free options that then ended in not only not getting made but the producers threatening to sue me if I used the rewrites they had me do.
The majority (I've had DOZENS of options over the years) have gone nowhere and the rights come back to me to try again.
I've got one script that's been optioned 3 times to 3 different producers and is currently in negotiations to be optioned a 4th time!
I've currently got 2 scripts where the producers need extensions on the options that we're discussing. And a couple other scripts that are in contract negotiations.
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Fran Harris Congrats! on wrapping principal on your movie/series! That's exciting.
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Travis Seppala WOW! you win!
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Had a couple of options in the past. Went nowhere. If I was offered it today, I'd ask for 5k up front for 6 months and then a set fee as soon as financing was in place w/backend points. Most option agreements from budding producers are tire kickers.
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Asmaa Jamil What is a "if-come"? I've never heard of this before.
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Both expired.
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Vicki Harris, a production company holds the project and until they could find a network or streamer who was interested in the project. No money would be exchanged during this period and I would not be able to submit the project to anyone else.
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Vikki Harris - per Script Anatomy:
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Oh, that screenshot I made is TINY! To copy/paste:
IF/COME DEAL
This will very likely be your first type of TV deal when you’re developing. An if/come deal is a deal in which the studio you’re developing with agrees to pay you a flat rate to write the pilot of the series you’re pitching—IF a network buys your pitch. In short, you will only get paid if you sell the pitch to a network.